Litecoin ($LTC), a cryptocurrency that has often been described as the silver to Bitcoin\u2019s gold, has been outperforming the wider cryptocurrency market over the past few weeks, to the point it has recently overtaken Solana ($SOL) in market capitalization.<\/p>\n
Litecoin was created back in 2011 as a fork of Bitcoin, and features near-zero cost peer-to-peer transactions. It differs from the flagship cryptocurrency in a number of ways, however, with reduced transaction confirmation times, lower fees, a larger maximum supply of 84 million LTC, and other different technical aspects.<\/p>\n
The cryptocurrency was created by former Google engineer Charlie Loo, who referred to it as a \u201clite version of Bitcoin\u201d at one point. It has been outperforming the wider cryptocurrency market in the wake of FTX\u2019s collapse, which has seen several platforms including Genesis and BlockFi halt withdrawals.<\/p>\n
Meanwhile, Solana\u2019s sell-off has been influenced by the collapse of FTX, as its CEO Sam Bankman-Fried was a well-known $SOL supporter. His exchange\u2019s balance sheet revealed that it had significant exposure to the Solana ecosystem, including to several illiquid tokens.<\/p>\n